Morning Market Movers April 18, 2017

The U.S. equity market is down slightly ahead of the open, after Goldman Sachs’ earnings release. Additionally, there were some large swings in the FX market, after Prime Minister Theresa May called for an early election, which adds to the political and economic uncertainty in the U.K. Let’s get back to the U.S. markets. There are some stocks in the small-cap sector moving, and we’re watching these morning market movers ahead of the bell.

Morning Market Movers

GNC Holdings Inc (NYSE:GNC) shares were up over 30% at one point during the pre-market, after it reported its first quarter 2017 financial results. GNC Holdings reported consolidated revenue of $644.8M during 1Q 2017, compared to consolidated revenue of $668.9M during 1Q 2016. GNC also reported an EPS of 37 cents, a significant fall from its 1Q 2016 EPS of 69 cents. However, analysts were only expecting the company to report an EPS of 34 cents. Now, GNC Holdings noted that its transactional growth rate rate rose by 9.3% in 1Q 2017, and it added 5M users to its rewards program. Here’s a look at GNC, as of yesterday’s close, on the daily chart:

Source: TradingView

Stratasys, Ltd. (NASDAQ:SSYS)  shares were up over 3% ahead of the bell after Piper Jaffray raised its price target on SSYS to $28 per share, from $21. Moreover, Piper Jaffray analyst Troy Jensen upgraded Stratasys to Overweight from Neutral, indicated Piper Jaffray’s reseller survey indicate that demands could be improving for the 3D printing industry. This increase in demand caused Jensen to raise his price target and rating on the stock. Here’s a look at Stratasys’ performance, as of the close yesterday, on the daily chart:

Source: TradingView

Cleveland BioLabs, Inc. (NASDAQ:CBLI) shares are down over 10% ahead of the open, after being up over 190% yesterday on its announcement that European Medicines Agency accepted its pediatric investigation plan. In addition to that announcement yesterday, CBLI announced the U.S. FDA completed its review of a side-by-side analytical comparison of two formulations of entolimod. That in mind, this could just be some profit taking. Additionally, as shown on the daily chart below, CBLI may have reached a level of resistance.

Source: TradingView

Tile Shop Hldgs, Inc. (NASDAQ:TTS) reported earnings ahead of the bell, and the company announced that its net sales grew by 8.8% during 1Q 2017, when compared to 1Q 2016. Moreover, its diluted earnings per share grew by 15.4% this quarter, when compared to the same period in the prior fiscal year. Tile Shop Holdings also increased its comparable store sales by 4.9%. Here’s a look at TTS on the daily chart:

Source: TradingView

It’s earnings season, and here are some notable small caps reporting earnings today:

  • Before the Open: HAFC, LECO SNV
  • After the Close: ADTN, CAMP, EGBN, HBHC, FULT, NAVI,  UFPI

On the economic calendar:

  • Housing Starts were reported at 8:30 AM ET. The consensus estimate for housing starts is 1.262M, while housing permits are projected to come in at 1.250M. Housing starts came in at 1.215M, while housing permits came in at 1.260M.
  • Industrial Production at 9:15 AM ET


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